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Article
Publication date: 2 October 2017

Nitin Arora and Preeti Lohani

Foreign firms have certain advantages which may spillover to domestic firms in the form of improvements in total factor productivity (TFP) growth. The purpose of this…

Abstract

Purpose

Foreign firms have certain advantages which may spillover to domestic firms in the form of improvements in total factor productivity (TFP) growth. The purpose of this paper is to empirically observe the presence of TFP spillovers of foreign direct investment (FDI) to domestic firms through analyzing source of TFP growth in Indian drugs and pharmaceutical industry.

Design/methodology/approach

This paper examines the sources of TFP spillovers of FDI in Indian drugs and pharmaceutical industry over the period 1999 to 2014. The data of 304 firms has been used for estimation of the growth rates of TFP and its sources under stochastic frontier analyses based Malmquist productivity index framework. For frontier estimation, the Wang and Ho (2010) model has been executed using translog form of production function.

Findings

The results show that there exists significant TFP spillover effect from the presence of foreign equity in drugs and pharmaceutical industry of India. The results also show that the major source of TFP fluctuations in the said industry is managerial efficiency that has been significantly affected by FDI spillover variables. In sum, the phenomenon of significant Intra-industry (horizontal) efficiency led productivity spillovers of FDI found valid in case of Indian drugs and pharmaceutical industry.

Research limitations/implications

The number of foreign firms is very less to imitate the significant impact of foreign investment on TFP growth of Indian pharmaceutical industry at aggregated level; and the Wang and Ho (2010) model is failing to capture direct impact of FDI on technological change under Malmquist framework.

Practical implications

Since, there exists dominance of domestic firms in Indian drugs and pharmaceutical industry, the planners should follow the policy which not only attract FDI but also benefit domestic firms; for example, developing modern infrastructure and institution which will further help domestic firms to absorb spillovers provided by the Multinational Corporations and also accelerate the growth and development of the economy.

Social implications

In no case, the foreign firms should dominate the market share otherwise the efficiency spillover effect will be negative and the domestic firms will be destroyed under the self-centric approach of foreign firms protected by the recent patent laws.

Originality/value

The study is a unique attempt to discuss the production structure and sources of TFP spillovers of FDI in Indian drugs and pharmaceutical industry with such a wide coverage of 304 firms over a period of 16 years under Wang and Ho (2010) model’s framework. The existing studies on TFP spillovers are using either a small sample size of firms or based upon traditional techniques of measuring spillover effects.

Details

Benchmarking: An International Journal, vol. 24 no. 7
Type: Research Article
ISSN: 1463-5771

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Article
Publication date: 31 May 2019

Mert Demir and Maung Min

This paper aims to examine the consistencies and discrepancies in corporate social responsibility (CSR) reporting by analyzing the CSR reports of pharmaceutical companies…

Abstract

Purpose

This paper aims to examine the consistencies and discrepancies in corporate social responsibility (CSR) reporting by analyzing the CSR reports of pharmaceutical companies. Despite the major role pharmaceutical companies play in the CSR field, our knowledge of the extent to which their disclosures provide comprehensive, material, credible and accurate information on their actual performances is limited because of a lack of sufficient literature on the CSR reporting practices of pharmaceutical companies.

Design/methodology/approach

The authors present a literature review that serves as the basis to develop the two key research questions: Do pharmaceutical companies publish comprehensive CSR reports? Are company reports that cover more material issues more comprehensive? Using the information on material CSR topics provided by the Sustainability Accounting Standards Board (SASB) and CSR reporting quality scores by the CSR-Sustainability Monitor®, the authors analyzed the CSR reports of the world’s 15 leading pharmaceutical companies. A total of 11 material topics from SASB were mapped onto the corresponding contextual elements in the CSR-Sustainability Monitor. The Monitor evaluates CSR reports published by the world’s largest companies in terms of the degree of transparency and external verification of reporting.

Findings

The analyses revealed that while the pharmaceutical industry outperforms other industries in terms of the overall comprehensiveness of reporting, certain discrepancies exist among these companies in the content of their disclosures. Specifically, pharmaceutical companies beat the averages on multiple key CSR topics. However, while disclosures on mature areas such as environment and labor relations show some level of standardization, those focusing particularly on sensitive areas such as human rights and supply chain are far from being standardized. The authors also find that CSR reports that do not include all of SASB’s material topics are just as comprehensive as those that do. A detailed analysis of US and non-US companies separately further revealed that this result is valid for both groups of companies.

Research limitations/implications

Considering the voluntary nature of CSR reporting, pharmaceutical companies still resort to selective disclosure techniques to highlight their achievements in areas where they feel more confident while leaving out others that can have potential negative consequences on the company. These results underscore the evolving nature of CSR reporting in the pharmaceutical industry and call for more attention and further investigation from managers and researchers alike.

Originality/value

The originality and value of the research show that despite its rapid growth and wide recognition by different segments of society and business as an effective and promising concept, CSR reporting has not yet reached a point where its expected benefits are realized. Focusing on the disclosure side of the story, this paper tries to identify the extent to which the pharmaceutical industry appropriately addresses increasing societal demand for enhanced transparency on its sustainable business policies and practices.

Details

Sustainability Accounting, Management and Policy Journal, vol. 10 no. 2
Type: Research Article
ISSN: 2040-8021

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Article
Publication date: 1 August 2004

Rama Prasad Kanungo

In the last two decades application of E‐commerce is evolving from technology driven to more user driven. Thus E‐commerce has become synonymous with communication…

Abstract

In the last two decades application of E‐commerce is evolving from technology driven to more user driven. Thus E‐commerce has become synonymous with communication, strategy and business practices. E‐commerce aids to exchange information and execute transactions among enterprises and individuals. It facilitates electronic adaptation of communication for business process via EDI (Electronic Data Interchange). More often R&D intensive industries like the pharmaceutical industry implements innovative technologies to gain competitive advantage in the market. E‐commerce provides the pharmaceutical industry with better mode of transaction to achieve competitive advantage and sustained growth. E‐commerce has a considerable impact on the business‐to‐business application, when a diverse group of enterprises become involved in the decision making process particularly in the pharmaceutical industry. This enhances the value of the industry through key underlying processes such as, high value drug innovation, clinical development and trial, project and people management, marketing and sales. This synchronisation of E‐commerce and corporate strategy creates significant value for this industry. The achievement of real value through Ecommerce has three major impacts. First, it enhances the value of the latest clinical developments; second, it increases shareholders’ value and third, it successfully reduces the time‐cycle of research and application. These achievements add substantial value to the industry. Therefore, this article reviews the application of E‐commerce and discusses its significance in the pharmaceutical industry. The theoretical discussion used in previous studies is also presented and four major aspects are highlighted explaining the success of E‐commerce in the pharmaceutical industry.

Details

Management Research News, vol. 27 no. 8/9
Type: Research Article
ISSN: 0140-9174

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Article
Publication date: 23 November 2012

Sushmita A. Narayana, Rupesh Kumar Pati and Prem Vrat

This paper aims to present a review of literature to assess the progress of research on managerial issues in the pharmaceutical industry globally.

Abstract

Purpose

This paper aims to present a review of literature to assess the progress of research on managerial issues in the pharmaceutical industry globally.

Design/methodology/approach

Literature from peer‐reviewed journals available on online databases was collected for the last decade, using the keyword search technique, and then classifying it according to major managerial issues, research methodologies used and geographical zones.

Findings

Behavioral issues at the consumer/physician level and non‐behavioral issues in pricing and medical expenses are studied the most, followed by supply chain management, research and development and manufacturing and services operations management. There is scope for conjunction of research efforts across themes and players. The studies focus on the developed nations through the application of field research and mathematical modeling techniques. The studies in the American region focus more on development and marketing while studies in Europe are aligned towards manufacturing and distribution in the industry. Studies in the developing nations are mostly exploratory in nature and require more focus on issues of research and development and marketing in addition to a substantial increase in overall research efforts. More trans‐continental studies are needed to consolidate research efforts globally.

Research limitations/implications

The review is not exhaustive of all studies available on the industry and each of the issues. Conference papers, unpublished material and lectures were excluded.

Practical implications

Identification of the present and emerging issues together provides practitioners in healthcare systems with an idea of available techniques and strategies to solve problems in healthcare/pharmaceutical management.

Originality/value

A study on research of management issues in the pharmaceutical industry across the world has perhaps not been conducted in the recent past: this paper fills part of that gap.

Details

International Journal of Pharmaceutical and Healthcare Marketing, vol. 6 no. 4
Type: Research Article
ISSN: 1750-6123

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Article
Publication date: 31 December 2020

Lea Prevel Katsanis, Dennis Pitta and Anne Morinville

The purpose of this study is two-fold: first, to identify the degree of adoption of patient centricity in the pharmaceutical industry and second, to understand how the…

Abstract

Purpose

The purpose of this study is two-fold: first, to identify the degree of adoption of patient centricity in the pharmaceutical industry and second, to understand how the industry operationalizes this strategy. It is an important shift in the industry because of its central focus on the patient.

Design/methodology/approach

A content analysis was used based on publicly available documentation that includes industry publications, company and brand websites and clinical trial publications to identify the frequency of words used to describe patient centricity.

Findings

The key finding of this study is that the leading pharmaceutical firms overwhelmingly use patient support/access programs as the primary method of implementing patient centric strategies.

Research limitations/implications

Future research is needed to identify what impact these strategies have on patients; and whether or not these strategies have an impact on lowering drug prices and improved clinical outcomes for patients.

Practical implications

Future research is needed to identify what impact these strategies have on patients; and whether or not these strategies have an impact on lowering drug prices and improved clinical outcomes for patients. Limitations include the reliance on publicly available documentation.

Social implications

Pharmaceutical firms need to be aware that their publically available profile suggests a one-dimensional approach to patient centricity and this may influence the way patients, physicians and policymakers view their attitudes toward patients. This study is the first to systematically examine the activities of leading pharmaceutical firms with respect to the adoption and implementation of patient-centric strategies in a comprehensive fashion.

Originality/value

This study is the first to systematically examine the activities of leading pharmaceutical firms with respect to the adoption and implementation of patient-centric strategies in a comprehensive fashion.

Details

International Journal of Pharmaceutical and Healthcare Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6123

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Article
Publication date: 11 November 2014

Genevieve Elizabeth O’Connor

This paper aims to review the progression of the pharmaceutical industry through the lens of government legislation in the USA. The goal of this paper is to provide a…

Abstract

Purpose

This paper aims to review the progression of the pharmaceutical industry through the lens of government legislation in the USA. The goal of this paper is to provide a comprehensive review of pharmaceutical marketing practices while providing direction for emerging pricing and promotional approaches.

Design/methodology/approach

This paper offers a comprehensive review of pharmaceutical marketing practices through an exhaustive review of the literature. Further, suggestions are made based on emerging marketing techniques found in the literature.

Findings

Changes in government legislation will continue to play a significant role in promotional activities of the pharmaceutical industry. This study identifies specific pricing and promotional tools the pharmaceutical industry can use in response to these emerging changes. Specific actions such as enhancing public image, reconfiguring sales forces, outsourcing and optimizing the pricing mix are suggested.

Practical implications

This paper presents clear guidelines for managers by affording applicable practical tools to offset changes posed by government legislation.

Originality/value

This paper seeks to fill a gap in research surrounding pricing and promotion in the pharmaceutical industry. Further, this paper offers concrete pricing and promotional approaches for pharmaceutical management.

Details

Journal of Product & Brand Management, vol. 23 no. 7
Type: Research Article
ISSN: 1061-0421

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Article
Publication date: 1 February 1998

Alan Earl‐Slater

The objective of this paper is to indicate the importance of the pharmaceutical industry to the UK economy. Data on various aspects of the industry are presented and…

Abstract

The objective of this paper is to indicate the importance of the pharmaceutical industry to the UK economy. Data on various aspects of the industry are presented and examined. As background information a collection of policies and pressures on the pharmaceutical environment are identified and discussed. The evidence shows what the UK economy stands to lose if it loses its pharmaceutical industrial base. Concludes that policy and pressure affecting drug products also affect drug companies; some of this is not realised when drug product policies are considered; the people of the UK will still need drugs whether or not the UK has a pharmaceutical base; the UK economy stands to lose a significant amount of benefits if it loses its pharmaceutical industrial base.

Details

Journal of Management in Medicine, vol. 12 no. 1
Type: Research Article
ISSN: 0268-9235

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Book part
Publication date: 23 October 2003

Heather Hartley

We are in the midst of a broad societal change in which women’s sexual problems are becoming increasingly medicalized, characterized as treatable medical conditions and…

Abstract

We are in the midst of a broad societal change in which women’s sexual problems are becoming increasingly medicalized, characterized as treatable medical conditions and defined and understood as a largely physiologically based disease, called “female sexual dysfunction” (FSD). When a condition is medicalized, a medical framework is used to understand it, and medical interventions are used to treat it. As part of this process, then, over the last several years, researchers and pharmaceutical companies have turned attention to developing medical treatments for FSD. As this medicalization continues to unfold with potentially important impacts, it is crucial that we understand the forces working to shape it.

Details

Gender Perspectives on Health and Medicine
Type: Book
ISBN: 978-1-84950-239-9

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Article
Publication date: 14 November 2016

Mohsen Ali Murshid, Zurina Mohaidin, Goh Yen Nee and Yudi Fernando

Physician satisfaction (PHS) in the pharmaceutical business is a major issue that has created serious concerns for pharmaceutical companies and medical practitioners. The…

Abstract

Purpose

Physician satisfaction (PHS) in the pharmaceutical business is a major issue that has created serious concerns for pharmaceutical companies and medical practitioners. The purpose of this paper is to explore the mediation effect of physician perceived value (PPV) on the relationship between marketing mix strategy (MMS) and PHS in the pharmaceutical industry in Yemen.

Design/methodology/approach

A non-probability purposive sample of 500 physicians was surveyed by using a self-administered questionnaire. Out of the 500 questionnaires, only 192 surveys were returned. Consequently, only 170 questionnaires were usable for the final analysis, with a 34 percent usable response rate. Several statistical techniques were performed including reliability, factor analysis, multiple regressions analysis, and hierarchical regressions to examine the mediation effect of the PPV.

Findings

The results showed that MMS elements, namely, product, price, promotion, and place, significantly contributed to PHS. The results also indicated that MMS elements, namely, price, place, and promotion, significantly contributed to PPV, whereas product showed an insignificant contribution. The PPV significantly contributed to PHS. Hierarchical regression results indicated that PPV partially mediated the relationship among MMS elements, namely, price, place, promotion, and PHS. Product variable was excluded in hierarchical analyses because the variable was insignificant to PPV.

Originality/value

This paper is the first to deal with perceived value as a mediating variable between elements of MMS (4Ps) for drug product and PHS in the context pharmaceutical business.

Details

Asia Pacific Journal of Marketing and Logistics, vol. 28 no. 5
Type: Research Article
ISSN: 1355-5855

Keywords

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Book part
Publication date: 24 June 2015

Vittoria Giada Scalera, Alessandra Perri and Ram Mudambi

To investigate the impact of knowledge-intensive FDI in the Chinese pharmaceutical industry, this study analyzes the activity of foreign MNEs operating in this context by…

Abstract

To investigate the impact of knowledge-intensive FDI in the Chinese pharmaceutical industry, this study analyzes the activity of foreign MNEs operating in this context by exploring their innovative background, the organizational arrangements they use for local knowledge creation and the performance of their local innovative processes. Based on the analysis of the universe of USPTO pharmaceutical patents applied for between 1975 and 2010 and granted to foreign assignees utilizing the work of Chinese inventors, our results show that, while the presence of foreign MNEs in the Chinese pharmaceutical industry entails a strong potential for positive externalities that could enhance the performance of the local innovation system, such externalities do not completely materialize yet, likely because of local actors’ limited absorptive capacity.

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